Posts: 26 to 46 of 46

Re: Custom Stop Loss and Take Profit

Great, can this be available earlier? Can these wonderful features be added and make available in stages, as and when they are ready, instead of waiting for all of them to be ready and available in Mar/April? Forgive me for my impatience...as you can see, I'm just too excite to have it and can't wait to add more protection to my EA in order to start trading safely.

With all these profit and position protection features added to FSB, we can develop EA with a different approach or perspective...meaning, we can set "very strict" conditions as our opening conditions and then let these profit/position protection features do the closing for us. Strict conditions are when, one is almost certain that when these conditions are met, the EA is 70 to 100% accurate in terms of the direction of the trade (long or short). If we can settle or get the opening "right" (half the battle is won) then with these new added features, it seems likely that we can have a higher chances of making profit and the degree of these profits depend on the strength of the trend and the appropriate profit/position protection.

Hence, I foresee that more people are able to develop more profitable EA easier than before

Thanks for all these wonderful news to look forward for the year...a bountiful year ahead for all.

As I've mentioned these Opening Conditions would likely be targeted with opening conditions when there is a breakout, with the right parameter/indicators whereby I can obtain 70% to 100% Entry accuracy in the direction (long or short).

Questions to Popov...

I am curious to know how the optimizer would greatly boost our EA results. If we know how to set "right/strict" Opening Conditions...I wonder would the optimizer be able/equip/incorporated with the necessary features to help us find the best SL and TP protection settings as our optimal Closing Conditions. If this can be done, it would be so easy for me to greatly improve my current EA, as I have more or less, able to develop EA with high entry accuracy...I've been trying these past few months to improve in my closing conditions/accuracy.

Secondly, I wonder whether Popov can develop a new method of generator/optimizer whereby we can search using generator and improve using optimizer for good Opening Conditions based on the profit range.

What do I mean...

Imagine when we look at the MT4 chart and we look at the period during a breakout. We wish we know what are the parameters to use to pin point that breakout (let's call this point, the Starting Point, SP) and we also see how the trend ended (let's call this point, the Ending Point EP)

We need a Starting point and an Ending point in the chart to begin calculation. When our Ending point is higher than our starting point in the MT4 chart (assuming it is a long position), we know the EA is making profit. Now the distant between these 2 points is the profit and I call it Profit Range, PR.

And when we want to develop an EA, we need to input the Opening conditions, i.e. determine the Start Point and input the Closing Conditions, i.e. determine the Ending Point so that FSB can calculate the Profit Range and many other factors to give us the EA statistical results.

We are always trying to figure out what indicators/parameters constituted both the Starting Point and Ending Point. With this new profit/position protection added features...our task is made easier by half. Now we need to figure out the Starting Point and let the FSB help us determine the Ending point by Closing with the highest Profit or least loss based on market strength and volatility.

I want to propose a new perspective of developing profitable EA....and I'm not sure how feasible it is. Here is my proposal.

Can we use the Profit Range to generate/optimize for the best Opening Conditions?

Since we need a Starting and Ending Point and the distance between them is the Profit range...can I therefore use the Generator to search for a Starting point that has the Longest End, i.e. Longest Profit Range? Or the Optimizer to refine my Starting point/Opening Conditions to produce the Longest Range? Using this method, I only need to generate or find the parameters for good opening conditions without having to determine my closing conditions but let the profit/position protection features find/determine my Closing and from there find a good Opening base on the longest Profit Range.

If we can use Profit Range as a means to find good opening conditions...then we can develop many types of EA based on Profit Range. We can set profit range between 50 to 250 pips to find intraday EA's Opening conditions/parameter and set profit range between 1000 to 2500 or above to search for breakouts etc. Now with this Profit Range method of searching for good Opening conditions/High Entry Accuracy, we can definitely have a better chance of developing profitable EA. Now the ball is in Popov's court...I wonder how feasible this proposal going to be.

Hence, if you can separate the calculation into 2 parts, Opening conditions Accuracy and Closing Conditions Accuracy. That would be awesome.

This was something I had in mind from the first day of FSB.

To test the entry, set the exit on Bar Closing and "Random Filter" as a Closing logic condition. After that press F5 to recalculate the strategy. It will give different performance on every hit.

Other option is to use "N bars exit". You need to preset it for 5 or 10 bars and to work on your entry rules. Or just change the number of bars by scrolling with the mouse wheel.

You can do the same with the exit rules. Set Bar Opening and Random Filter for entry and you'll see how good is your exit on a random entry.

From a FSB Pro point of view, everything is of "hindsight" hence, we already have all the historical data to do the kind of 100% accuracy that you mentioned Popov.

If we figure out a proper formula or method, I'm able to implement it in the program. Probably you can ask in the MyFxBook forum for clarification on the topic. I can add all info you find useful in MyFxBook in FSB Pro in next releases.

Re: Custom Stop Loss and Take Profit

The dynamic Stop Loss and Take Profit indicators are more or less shaped, but I cannot find the best way for implementing the Trailing Stops and Break Evens. I'll leave this project aside for several days.

Re: Custom Stop Loss and Take Profit

Question: I am assuming that these new profit protection features can be used together with our closing logic conditions, not either/or but and/or right?

Yes, of course. The closing points and conditions are working as expected. I introduced a new indicator "No Exit" in order to make an automatic conversion of the strategies saved with "Stop Loss", "Take Profit", Trailing Stop"... to the new format. If you open such strategy, the program will set "No Exit" for Closing Point and will put the corresponding new protection indicator.

Every Stop Loss indicator will be able to work also as a Trailing Stop. You can see the "Trailing mode" option on the screenshot.

Re: Custom Stop Loss and Take Profit

JFD has new add on called for MT4+ now available for Demo account (previously only Live account).

It has profit protection features for all trades. You may want to look at it for some ideas.

Install the MT4+ and under the expert folder, run Trade Terminal in one of the MT4 chart.

In the Trade Terminal, there is Tool tab and the drop down list, there is "Automated Close"

Using the Automated Close, we can set when the Profit protection features will activate.

For eg, I can choose for the profit protection to be activated when the position is greater or equal to 150 pips and set SL to 50 pips and then add in Trailing at 300 pips.

You can add more than 1 rules.

I wish JFD has a profit protection features like the guaranteed profit for BE.

There are many other click and match options. You can even save the template and click to activate it as and when you want. There are other features too.

Attach is the screen shot for reference.

While I'm still waiting for FSB to update with all these new features. I am trying out JFD Trade Terminal Automated Close to test out which settings are most suitable for my EAs and so that when FSB is ready with the profit protection features, I would already know what settings I want to add to my FSB EA from the observation I've made via JFD Trade Terminal.

For those who want to find out more and read about the add on MT4+ features...below is the link (I'm not here to promote JFD, but to share resources for all to consider and improve our trading results). Ultimately, we want all the protection features to be fully incorporated into our EA and not depend on another platform to implement it. Meanwhile, at least we can have the JFD features to test run these profit protection features to search for the best options to incorporate into our FSB EA in future.